Cayman Islands, December 20, 2024 / AlexaBlockchain/ – Eigen Foundation is allocating a 1 million EIGEN token grant to AltLayer, an infrastructure provider for scalable Layer 2 solutions, in recognition of AltLayer’s past and ongoing contributions to the EigenLayer ecosystem.
AltLayer announced that the 1 million EIGEN tokens will be distributed to its community members.
“AltLayer has been a cornerstone of the Eigen ecosystem since the early days,” said Robert Drost, Executive Director and CEO of Eigen Foundation. “We’re proud to support projects like AltLayer that align with our vision of an open, interoperable, and community-driven ecosystem.”
AltLayer’s contributions to the EigenLayer ecosystem cover diverse areas such as tech, marketing, growth and community, including:
- Pioneering AVS builders with MACH, VITAL and SQUAD.
- Directly launching 5 AVS via MACH that collectively have more than $25 billion in restaked assets.
- Serving 18 AVSs as the second-largest operator by delegators.
- Airdropping 50M $ALT to restakers and builders.
- Rolling out no-code AVS tooling like “Wizard” for rapid deployments.
- Through its RaaS service, bringing projects such as Xterio, Cyber, DODO, LogX and many others to EigenDA
- Co-hosting Rollup Day events.
- Pioneering cross-community incentives
- Expanding adoption of EigenDA and AVSs globally.
“It’s been an amazing journey to innovate and build restaked rollup and Wizard (AVS as a service) with the EigenLayer team, for better scaling and decentralization of onchain and offchain services,” said YQ, Founder of AltLayer. “With the upcoming Autonome AVS, we’ll together bring verifiable AI to reality.”
AltLayer will distribute 500,000 EIGEN tokens to holders of reALT tokens, either in their wallets or deposited on EigenLayer.
The remaining 500,000 EIGEN tokens will be distributed in 2025 when EigenLayer Reward v2 goes live on mainnet.
Going forward, AltLayer has plans to integrate even more deeply with EigenLayer:
- Migrate ALT staking to EigenLayer staking contracts
- Expand infrastructure to onboard new builders to EigenLayer
- Introduce advanced tools for developers and restakers
- Foster collaborations to build a stronger restaking ecosystem.
To keep up to date with EigenLayer developments, visit official channels such as https://eigenfoundation.org/.
About Eigen Foundation
The Eigen Foundation is an independent, shareholder-less entity dedicated to accelerating the growth of the EigenLayer ecosystem. EigenLayer is an engine for maximizing open innovation. Its core invention of restaking enables staked ETH to be used as cryptoeconomic security for protocols other than Ethereum. This provides developers with access to an immense reservoir of programmable trust via Ethereum and creates the “Shared Security Commons.” At its core, the Eigen Foundation’s mission is to steward the development and adoption of these commons. The Foundation will do so by supporting research and development of the EigenLayer protocol, funding grants programs, providing third-party evaluations, and stewarding continued progress toward greater decentralization.
Website | X [Twitter] | Eigen Foundation
About AltLayer
Founded in 2021, AltLayer is an open and decentralized protocol for rollups. AltLayer is known for its novel product – ‘restaked rollups’ – which supplements existing rollups with better security, decentralization, fast finality, and interoperability. AltLayer supports major stacks, alternative DA layers, and shared sequencers, including OP Stack, Arbitrum Orbit, Polygon CDK, ZK-rollup, Celestia, EigenDA, Avail, Espresso, and more.
Official Website | Twitter | Discord |
Source: Eigen Foundation
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